Palantir Technologies (NASDAQ:PLTR) Trading Down 1.7% - Here's What Happened

Key Points

• Palantir Technologies stock dropped by 1.7%, trading at $179.33, with a significant decline in trading volume, down 49% from the average.
• Several analysts updated their price targets for Palantir, ranging from $45.00 to $200.00, with the consensus rating being "Hold" and an average price target of $138.28.
• The company reported strong quarterly earnings, beating estimates with $1 billion in revenue and a year-over-year growth of 48%, alongside a return on equity of 10.75%.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price traded down 1.7% during mid-day trading on Monday . The company traded as low as $178.29 and last traded at $179.33. 45,570,194 shares changed hands during trading, a decline of 49% from the average session volume of 88,974,852 shares. The stock had previously closed at $182.39.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PLTR shares. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the company from $80.00 to $160.00 in a research report on Tuesday, August 5th. Royal Bank Of Canada increased their price objective on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Bank of America increased their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Mizuho set a $165.00 price target on shares of Palantir Technologies in a research report on Monday, September 15th. Four analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $140.22.

Palantir Technologies Stock Performance

The stock's fifty day moving average is $163.92 and its two-hundred day moving average is $131.20. The firm has a market cap of $423.22 billion, a price-to-earnings ratio of 597.14, a PEG ratio of 10.28 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same quarter last year, the company earned $0.09 EPS. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 222,878 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $973,650,893.46. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Glazer sold 81,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock worth $250,524,804 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. Norges Bank bought a new position in shares of Palantir Technologies during the 2nd quarter valued at about $3,307,457,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Palantir Technologies in the second quarter worth about $2,543,888,000. Vanguard Group Inc. boosted its holdings in shares of Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after buying an additional 7,194,216 shares during the period. Nuveen LLC acquired a new position in shares of Palantir Technologies in the first quarter worth about $520,232,000. Finally, State Street Corp boosted its holdings in shares of Palantir Technologies by 6.9% in the second quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after buying an additional 6,097,629 shares during the period. Institutional investors own 45.65% of the company's stock.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.